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The Oil Bonanza China Mistakenly Gave Away For Free

 
 

FN Media Group Presents OilPrice.com News Commentary

LONDON, April 16, 2018 /PRNewswire/ --

Near the banks of the White Nile, in the mountains of East Africa a Chinese oil company was sitting on what might have been a major oil discovery - a 182-million-barrel probable reserve, with great potential to grow. Mentioned in today's commentary includes: Pengrowth Energy Corp. (NYSE: PGH), Pembina Pipeline Corp. (NYSE: PBA), TransCanada (NYSE: TRP), Franco-Nevada Corporation (NYSE: FNV), Enbridge, Inc (NYSE: ENB).

They spent hundreds of millions of dollars and sunk 13 wells, shot or acquired 6,700 km of 2D seismic, and shot over 1,000 km of 3D seismic. Then - thanks to a weird quirk of Sudanese geology - they gave away the entire African mother lode for free.

Now, a tiny Canadian explorer - Stamper Oil & Gas (STMP; STMGF) - stands to reap a petroleum opportunity unlike anything seen in years. And, they're doing it with an energy industry legend - the one man with a nearly perfect 40-year record of striking oil in the tricky rock of Sudan.

The story of Stamper Oil & Gas (STMP; STMGF) begins with a colossal blunder by Chinese geophysicists on the shores of the White Nile.

Beijing's Huge Mistake  

15 years ago, an oil hungry China made Sudan's Al-Rawat Basin a major focus of their multi-billion-dollar energy exploration machine.  They spent 10 years scouring the region for oil. Anticipating a massive find, they sank thirteen wells, acquired or shot 6,700 km. of 2D seismic and shot 1,000 sq. km. of 3D seismic spending $100s of millions in the process.

And, while they did strike a little oil - ongoing seismic studies determined their blocks held far less than they had anticipated. Eventually, they gave up. The Chinese turned everything over to the Sudanese government.  

The problem? It turns out they were hunting for the wrong kind of oil formation. If they knew what to look for, they might have unlocked a major oil find. Now, Stamper Oil & Gas (STMP; STMGF) is looking to swipe the entire African oil bonanza right out from under China's nose.

And, it's all thanks to a man known as Mr. 99 percent.

Stamper Oil's Secret Weapon 

George Fulford is a legend in Sudan, with 40 years of experience and connections at the highest levels of the Sudanese petroleum industry. He's also known as "Mr. 99 percent". Why? Because after drilling 77 wells across the country, he can boast an almost unparalleled success rate in the industry. No one alive knows more about Sudanese oil. So when the Chinese flopped in the Al-Rawat - it's no surprise that Fulford spotted their mistake.


Four years ago, Stamper CEO David Greenway asked Fulford to interpret seismic data that had been done on the huge Al -Rawat oil concession that the Chinese company had let go. Fulford immediately figured out what China had missed.

The Chinese were looking for so-called "structural" deposits - the kind that nearly all oil exploration in the world looks for. Big mistake. That's because the oil locked away in Sudan is not structural, but stratigraphic. These rare deposits are locked in place by cap rock, making them difficult to dislodge, and difficult to find… unless drillers know precisely what they're looking for.

That's where George Fulford comes in. He's worked with stratigraphic oil for years and Stamper Oil & Gas (STMP; STMGF) has now locked down his expertise: adding him to their technical advisory board in January.

The Latest Great Oil Discovery on Earth

Sudapet Petroleum, Sudan's national oil company, upon learning of this report drilled eight test wells. The first five "structural" oil wells proved underwhelming. But the last three "stratigraphic" holes gushed oil at a rate of up to 2,200 barrels per day (bpd), thereby proving out Fulford's hypothesis of a stratigraphic play.

Estimated probable reserves on the Al-Rawat field are around 182 million barrels.

Sudapet has 6,000 bpd ready to produce and will add the 33 wells to be drilled as they come on line, at a projected cost-per-barrel of only $17-$20 (compare that to the $50-$75 it costs to produce a barrel of oil in Alberta).

Keep in mind that today Stamper Oil & Gas (STMP; STMGF) has a total market cap of just $13.44 million. The opportunity is clear, and Stamper has the team to capitalize on it.


Stamper can buy 100 percent of SOC for 25 million Stamper shares and pay certain costs of SOC. SOC can earn a 35 percent interest in Block 25 developed oil fields for $40,144,000, and another $26,250,000 for the same participation in the development block of oil fields, plus its share of new well costs. All of these costs will be recovered through the Production Sharing Agreement with the Sudanese Government.

The White Nile Dream Team  

The management at Stamper has the skills needed to reinvent the Sudanese oil industry - and capitalize on what might be the one of the last great discoveries on Earth.

  • The industry's biggest players already know about George Fulford. He's the gold standard in Sudanese oil exploration.
  • CEO David Greenway has two decades of experience in managing, financing and developing growth for junior public resource companies like Stamper.
  • Chairman Lutfur Rahman Khan has more than three decades of experience in the oil and gas sector. He's well aware of the difficulties of working in Sudan.
  • As Chairman of Arakis Energy Corporation from 1995 to 1999, he oversaw the acquisition of a 12.2-million- acre oil concession in Sudan. Mr. Khan has also been active throughout Canada, Africa and the Middle East and controls several companies in the upstream and downstream sectors.

With over one hundred years of cumulative experience of its people and immense knowledge of working in Sudan, Stamper Oil & Gas (STMP; STMGF) is superbly positioned.

A Multi- Million Gift from China  

With the potential of a project like this, with probable reserves bordering 182 million barrels, located deep in the remote border regions of Sudan - drillers would typically be facing hundreds of millions in exploration costs.

But, once again - Stamper has an ace in the hole. The Chinese built up $100s of millions of exploration in their failed search for structural oil deposits. They abandoned these assets as good as new. Stamper Oil & Gas through its partner State Oil are going to help develop them.

Conclusion  

Years from now, experts may view the story of Stamper Oil as one of the greatest "scoops" in the history of energy exploration. It may also be one of China's biggest blunders, a potential 182-million-barrel probable reserve discovery.

Right now, Stamper Oil & Gas (STMP; STMGF) is worth just $13.44 million.

Other energy companies to watch with huge potential this year:

Pengrowth Energy Corp. (NYSE: PGH): Another company that looks to have halted its falling stock price and is now preparing to ride the bullish sentiment in oil markets. Having shed a lot of excess weight this year in massive asset selloffs, investors can expect a much leaner and meaner Pengrowth in 2018.

Pembina Pipeline Corp. (NYSE: PBA): The North American pipeline industry has had a tough year, but the recent approval of the Keystone XL pipeline route and the growing need for transportation capacity should act as a boon for the sector. Pembina Pipeline Corp. has ridden the oil price crash in an impressive manner, maintaining a good stock price and increasing its dividend.

TransCanada (NYSE: TRP): is a major oil and energy company based in Calgary, Canada. The company owns and operates energy infrastructure throughout North America. TransCanada is one of the continent's largest providers of gas storage and owns and has interests in approximately 11,800 megawatts of power generations.

Franco-Nevada Corporation (NYSE: FNV) specializes in securing precious-metal streams, but the company also works in the oil and gas industry. With key assets in some of North America's most desirable oil and gas plays, including Texas, Oklahoma and Alberta, it is clear that the company has amazing potential in the coming years.

Enbridge, Inc (NYSE: ENB), based in Canada's oil sands capital Alberta, is an energy delivery company focusing on transportation, distribution, and generation of energy. Operating in the United States and Canada, Enbridge owns and operates the largest natural gas distribution network in Canada and the longest crude oil transportation system in the world.

By. Ian Jenkins

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY** 

Forward-Looking Statements 

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements.  Forward looking statements in this release include that the Sudan oil discovery will prove as large and as significant as expected; that probably reserves can become proven reserves and that the reserves can be produced; that SOC will have sufficient funds to acquire and will pay for 35 percent of the developed oilfields of over $40M and then the undeveloped oilfields of over $26M,and that Stamper will be able to purchase 100 percent of SOC; that the Sudan project will be able to produce oil as currently scheduled and at the targeted low costs from its Sudan property; that STAMPER will obtain operating permits on its properties; that the oil when produced by STAMPER will be high quality suitable for standard use; and that STAMPER will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  Risks that could change or prevent these statements from coming to fruition include that Stamper may not get TSXV approval for its purchase of SOC; SOC may not be able to pay the costs of acquiring its 35 percent of Block 25; the group may not get regulatory approval for their operations, aspects or all of the properties' development may not be successful, production of oil may not be cost effective as expected; there is substantial political risk and also risk of war in Sudan, which have the potential of disrupting or destroying production and assets;  STAMPER may not raise sufficient funds to carry out its plans, changing costs for extraction and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations and technological results based on current data that may change with more detailed information or testing; potential process methods and resource recoveries assumptions based on limited test work with further test work may not be viable; world oil prices may drop; the availability of  labour, equipment and markets for the products produced; and despite the current expected viability of its projects, that the oil reserves are not proven or cannot be economically produced on its properties, or that the required permits to build and operate the envisaged facilities cannot be obtained. Currently, STAMPER has no revenues. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

DISCLAIMERS

PAID ADVERTISEMENT. This communication is a paid advertisement and is not a recommendation to buy or sell securities. Oilprice.com, Advanced Media Solutions Ltd, and their owners, managers, employees, and assigns (collectively "the Company") has been paid by the profiled company or a third party to disseminate this communication. In this case the Company has been paid by STAMPER seventy five thousand US dollars for this article and certain banner ads. This compensation is a major conflict with our ability to be unbiased, more specifically:

This communication is for entertainment purposes only. Never invest purely based on our communication. Gains mentioned in our newsletter and on our website may be based on end-of- day or intraday data. We have been compensated by STAMPER to conduct investor awareness advertising for TSXV:STMP and OTCQX:STMGF. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the company. The third party, profiled company, or their affiliates may liquidate shares of the profiled company at or near the time you receive this communication, which has the potential to hurt share prices. Frequently companies profiled in our alerts experience a large increase in volume and share price during the course of investor awareness marketing, which often end as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in volume and share price is likely to occur.

We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our communications has not been independently verified and is not guaranteed to be correct. The information is collected from public sources, such as the profiled company's website and press releases, but is not researched or verified in any way whatsoever to ensure the publicly available information is correct.

SHARE OWNERSHIP. The owner of Oilprice.com owns shares of this featured company and therefore has an additional incentive to see the featured company's stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of this issuer in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.

NOT AN INVESTMENT ADVISOR. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

INDEMNIFICATION/RELEASE OF LIABILITY. By reading this communication, you agree to the terms of this disclaimer, including, but not limited to: releasing The Company, its affiliates, assigns and successors from any and all liability, damages, and injury from the information contained in this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.

RISK OF INVESTING. Investing is inherently risky. While a potential for rewards exists, by investing, you are putting yourself at risk. You must be aware of the risks and be willing to accept them in order to invest in any type of security. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell securities.

DISCLAIMER:  OilPrice.com is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein.  The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact
e-mail:editor@financialnewsmedia.com
U.S. Phone: +1(954)345-0611

SOURCE OilPrice.com

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